The euro’s decline has temporarily stalled near 1.2211, but whether the level could hold, it is still yet to be seen. The U.S. stock market and the Forex market remain volatile today. Dow Jones was down 400+ points, the Treasury yields were near multi-year high, and the euro was down…
Category: Forex
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Can the Euro Hold above 1.21?
The euro’s decline was exacerbated after the 1.2313 level of support was violated. The euro found some support at 1.2250 but eventually, succumbed to the selling pressure. The next level of support was found near 1.2211. The rebound from 1.2211 triggered an action from my MT4 EA. A long position…
High Yields and Inflation Fear Send the Euro Reeling
The euro’s on a relentless decline toward 1.22. The euro found support at around 1.2313 yesterday, but the recovery toward 1.24 was proved to be an opportunity to close the existing long positions, or to open new short positions. Currently, it’s trading at the day low near 1.2250. The U.S….
Will the Euro Fall below the Near-Term Support at the 1.2320 level Today?
The euro’s attempt to rebound from 1.2313 was an exercise in futility. The euro found support at around 1.2313 yesterday, but the recovery stalled at 1.24. Currently, it’s back at around 1.2320 to retest the support level. The U.S. dollar’s support came from the rumors in the market that there might…
The Euro Seesawed as the Financial Markets Remained Unsettled
The euro finally showed some upside momentum after dipping as low as 1.2313. The stock markets in Asia and Europe plummeted following the sell-off on Wall Street, while today’s U.S. stock market is quite volatile. The economic data from Europe today was good, but did not provide the euro with…